Sources: Sony has cut PS5 production for this fiscal year by 4M units to ~11M, following production issues with its custom-designed SOC for the new console (Bloomberg)

Bloomberg:
Sources: Sony has cut PS5 production for this fiscal year by 4M units to ~11M, following production issues with its custom-designed SOC for the new console  —  - Low yields of company's custom-designed silicon a bottleneck  — Sony facing aggressive pricing from Microsoft's Xbox team